Business Porn

A venture capitalist I heard several years ago spoke of a startup’s income or revenue projections as “business porn”, all fantasy with no reality constraints. Startups with actual income or even some profit weren’t as interesting.

Looking at Trump speech to Congress last night and the stock market’s reaction this morning (up 247 to 21,059 as I write), I see that he engaging again is catchy phrases and not much specifics. And as they say, “the crowd goes wild”. All the promised military and infrastructure spending, plus the promise of big tax cuts looks really good. He is already getting push back, including from the Republicans in Congress who have a say on any spending. He is promoting the “sizzle” and Wall Street is buying it. It’s not at all clear what parts of his promises he can deliver. This is more fan dance than striptease, there isn’t much detail visible.

Trump’s grandfather started the family fortune with brothels and opium. The current Trump empire has a substantial casino presence, again an industry with more fantasy than reality. The various Trump Towers are prompted as a fantasy lifestyle. This speech is more of the same.

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